411 S F Street Unit A & B, Lake Worth Beach, FL 33460

Property Description

Opportunity to acquire cash-flowing multifamily property situated in downtown Lake Worth on a nice street with lots of new construction development happening all around. Prime location. Solid concrete block construction. 2 separate houses on one lot zoned as a multi-family duplex (DescriptionMULTI-FAMILY ZoningSF-TF-14) 25ft wide lot extending 135 ft deep, backing up to alley, allowing for entrances and separate parking for each detached single-family house. Front home is an 2-bedroom, 1-bathroom bathroom and is occupied by a long-term tenant paying well below the market rent rate on a month-to-month lease that could easily be increased. Little to no maintenance expenses on this property are expected with long-term tenants. The back house is rented for $1400/month and is 1 bedroom, 1 bathroom on lease until 7/24. Please feel free to refer to rentometer to review Market rent rates in this area Overall condition of both houses is good. Roof appears in good condition. Small deferred maintenance items valued at under $3,000 may exist. Windows in back house appear to be on the newer side and tenants pay on time. This is likely the Lowest priced multi family property for sale in lake worth or in the majority of palm beach county. Many similar properties in this area have sold recently for above 400k and Due to the very low asking, seller is entertaining drive by offers for the first 7 days of listing with inspection period (interior access) offered to those that place the strongest offers. This scenario is being offered for the benefit of the tenants to lower their inconvenience level. Please feel free to drive by but seller asks not to disturb tenants. Thank you in advance.